Rivian-Spunout Also Raises $200 Million, Secures DoorDash Investor and Board Seat
Rivian-spunout EV startup Also raised $200 million in a Series C round led by Greenoaks with DoorDash as strategic investor and board observer, earmarking funds for product development, manufacturing capacity and international rollout of autonomous compact EVs. Separately, Rivian secured a potential $1.25 billion Uber investment and reported $144 million gross profit for 2025.
1. Series C Funding for Also
Also, the electric vehicle startup spun out from Rivian, raised $200 million in a Series C financing led by Greenoaks with participation from Prysm Capital and DoorDash. The capital will support product development, expanded manufacturing capacity and the international rollout of autonomous compact EV models.
2. DoorDash Strategic Partnership
Also entered a multi-year commercial agreement with DoorDash focused on autonomous last-mile delivery and appointed DoorDash co-founder Stanley Tang as a board observer. The startup aims to deploy its TM-B electric bike and TM-Q electric delivery quad in complex urban environments where roadways intersect with bike lanes.
3. Rivian's Capital Infusion and Financial Performance
Separately, Rivian secured an agreement with Uber for up to $1.25 billion in investment, including an initial $300 million and potential purchase of up to 50,000 autonomous vehicles. In 2025, Rivian reported a $144 million gross profit, narrowed its net loss to $3.64 billion and achieved $5.38 billion in revenue, an 8% year-over-year increase.